🪙 Six Bitcoin Mutual Funds to Debut in Israel Next Week: Report
Six Bitcoin mutual funds are set to launch in Israel on December 31, following approval from the Israel Securities Authority (ISA). This decision comes nearly a year after the U.S. Securities and Exchange Commission approved similar exchange-traded funds (ETFs). The funds will be managed by firms including Migdal Capital Markets and Phoenix Investment, with management fees ranging from 0.25% to 1.5%. One fund will actively manage investments to outperform Bitcoin.
Initially, the funds will transact once daily, with future products expected to allow continuous trading. The ISA's approval reflects a growing interest in cryptocurrency investment options in Israel, paralleling trends observed in the U.S. market, where Bitcoin ETFs have attracted significant capital.